TTM Technologies reports Q4 EPS 60c, consensus 47c

Reports Q4 revenue $650.97M, consensus $630.11M. Non-GAAP net income for Q4 included a $14.1M pre-tax foreign exchange gain, compared to a $7M pre-tax foreign exchange loss in the fourth quarter of 2023. “We delivered a solid quarter with revenues and non-GAAP EPS above the high end of the guided range. Revenues reflected the fourth consecutive quarter of year on year growth due to demand strength in our Aerospace and Defense, Data Center Computing and Networking end markets, the latter two being driven by generative AI,” said Tom Edman, CEO of TTM. “Operating margins were double digit for the second consecutive quarter and reflected continued solid execution. In addition, cash flow from operations was a healthy 13.2% of revenues enabling the company to maintain a solid balance sheet with a net leverage ratio of 1.2x,” concluded Edman.